It wasn’t long ago that electrical distributors could rely on regional and territorial advantages as a means of maintaining a steady stream of regular customers. That guaranteed revenue, however, quickly dissipated when the ubiquity of the Internet started introducing customers to competitors from across the globe. In just a few years, customer behavior and expectations have drastically changed as a result of easy access to low prices from a wide variety of online sources. In this increasingly competitive environment, it’s more important than ever to not just understand your customers’ specific needs, but to also have the flexibility to adjust your business practices in order to meet those needs. And it’s not about offering the lowest prices. Instead, it’s about finding ways to differentiate your business in order to build customer loyalty. Combine this with finding ways to streamline your business practices to increase your margins, and you have the keys to survival and growth.